October 9, 2006

New UCSB Center for Research in Financial Mathematics and Statistics Presents Public Lectures and Reception

The newly established Center for Research in Financial Mathematics and Statistics at UCSB presents an inaugural program of public lectures and reception on Monday, October 16 at Reitnouer Auditorium, Room 1003 in the Intercollegiate Athletics Building. The event is free and the public is invited to attend any one or all three lectures. The reception follows at 5 p.m.

The first lecture, which begins at 2 p.m., features Peter Carr, head of the Quantitative Financial Research at Bloomberg and of the Masters in Mathematical Finance program at New York University's Courant Institute, speaking on "A Practitioner's Overview of Mathematical Finance." His talk will focus on the many ways in which mathematical finance is used in the financial industry.

Thaleia Zariphopoulou, the V.H. Neuhaus Professor at the University of Texas in Austin and president of the Bachelier Finance Society, will follow at 3:15 p.m. She will present "Investments: Theory and Practice," discussing theoretical advances and practical applications for the problem of specifying the investor's optimal asset allocation.

For the final lecture at 4:15 pm., Peter Cotton, vice president at Morgan Stanley in the Fixed Income Division, will speak on "Are There Central Problems in Finance?" His lecture will explore the concept of a not-for-profit hedge fund.

"The speakers represent well what the center is about--excellence in academic research in financial mathematics combined with top level practitioners," said the center's director, Jean-Pierre Foque, professor of statistics and applied probability.

The new center encourages cross-disciplinary teamwork that merges theoretical concepts, computational methods, and software design. UCSB faculty members and visiting scholars bring their expertise in a variety of fields, including economics, statistics, applied mathematics, and scientific computation. The center also sponsors postdoctoral scholarships for young researchers working in the area of finance.

By creating an environment in which academic and financial communities can work collaboratively, the center will increase the diversity of research and teaching at UCSB while providing the local community with access to and interpretation of the most current advances in financial mathematics and statistics.

"Among visitors and speakers we invite will be industry leaders who will give public lectures on new trends, new ideas, developing markets, and products," said Fouque. "This is indeed of prime interest to our local community, private investors, and investment firms. Also, we intend to forge relationships with them and attack more specific problems that will be of direct relevance."

For more information about the center, visit www.pstat.ucsb.edu/crfms/

About UC Santa Barbara

The University of California, Santa Barbara is a leading research institution that also provides a comprehensive liberal arts learning experience. Our academic community of faculty, students, and staff is characterized by a culture of interdisciplinary collaboration that is responsive to the needs of our multicultural and global society. All of this takes place within a living and learning environment like no other, as we draw inspiration from the beauty and resources of our extraordinary location at the edge of the Pacific Ocean.